Thursday , April 27 2017
Breaking News


Belgium Telecom Company BICS to Buy TeleSign for $230m

Belgium Telecom Company BICS

BRUSSELS: TeleSign Corp. of Marina del Rey, a developer of user authentication software, announced on Tuesday that it had agreed to be acquired for $230 million in cash by telecommunications company BICS of Belgium. The deal is expected to close in the third quarter of this year after regulatory review. TeleSign will continue to operate independently under its own name ... Read More »

Belgium’s UCB sees Q1 sales up 15%


BRUSSELS: Belgium’s largest pharma company UCB (Euronext Brussels: UCB) this morning reported that revenue for the first three months of 2017 increased to 1.12 billion euros ($1.22 billion, a rise of 15% at actual and 14% at constant exchange rates (CER). This was supported by the one-time other revenue of 56 million euros recognized in February 2017 for out-licensing of ... Read More »

KBC inaugurates its new trading room in Brussels

KBC Brussels - Belgium

BRUSSELS: KBC inaugurated its new trading room, located on Avenue du Port in Brussels, at the beginning of the month. There are currently 164 “dealer desks” where markets from all over the world are continuously monitored. Surprisingly, Skype telephony replaces virtually all phones. “Previously, the trading room was much noisier”, explains Luc Gijsens, CEO of the International Markets Division of ... Read More »

Belgium stocks higher at close of trade; BEL 20 up 0.65%

stocks higher

BRUSSELS: Belgium stocks were higher after the close on Wednesday, as gains in the Financials, Consumer Services and Industrials sectors led shares higher. At the close in Brussels, the BEL 20 gained 0.65%. The best performers of the session on the BEL 20 were ING Groep NV (AS:INGA), which rose 3.77% or 0.515 points to trade at 14.170 at the ... Read More »

Elia to build offshore grid in Belgian North Sea


BRUSSELS: Grid operator Elia will build a modular offshore grid (MOG) in the Belgian North Sea with an investment of €400m. The investment will be used for all the construction works carried out by the Belgian company, Elia along with the acquisition of part of some assets built by Rentel. The MOG, which will act like an electricity plug, will ... Read More »

Belgium’s WABCO wins $1.2b in new business in past four Qs


BRUSSELS: WABCO Holdings Inc., a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today disclosed that – from Q2 2016 to Q1 2017 – it has entered into contracts in local currencies with customers worldwide that total $1.2 billion of expected cumulative incremental business. These awards include $746 million in new ... Read More »

Brussels Airlines carried 686,299 passengers in March

Brussels airlines

BRUSSELS: This is a growth of 51.4% on March 2016, which was marked by the March 22nd attacks with sustained flight disruption for the company. Amongst March 2017’s passengers, 572,905 chose to take an intra-European flight and 113,394 flew to Africa, North America, Israel and India. The company stresses in a communiqué, “The March figures are difficult to compare with ... Read More »

Belgium stocks falls at closing of trade, BEL 20 lose 0.04%

Un trader al lavoro.    REUTERS/Finbarr O'Reilly

BRUSSELS: Belgium stocks were lower after the close on Friday, as losses in the Consumer Services, Healthcare and Telecoms sectors led shares lower. At the close in Brussels, the BEL 20 lost 0.04%. The best performers of the session on the BEL 20 were Engie SA (PA:ENGIE), which rose 0.34% or 0.04 points to trade at 13.45 at the close. ... Read More »

EU tropical wood imports increasingly shipped through Belgium


BRUSSELS: On the demand side, the most notable trend in EU tropical sawn hardwood imports during 2016 was increasing concentration of trade through Belgium. This trend is much more indicative of changes in distribution channels for tropical wood within the EU than of variations in regional demand. For reasons probably associated with differences in transit times or local costs, EU ... Read More »

Belgium’s polished diamonds exports stable in March

polished diamonds

BRUSSELS: Belgium’s exports of polished diamonds were almost flat in March, boosted by a significant rise in shipments to India, according to data published by the Antwerp World Diamond Centre (AWDC). Polished exports crept up 0.4% to $1.17 billion, the AWDC said. By volume, outbound shipments dropped 1% to 485,409 carats, with the average price increasing 1% to $2,403 per ... Read More »

Belgium banks declines loans to Indian diamantaires


NEW DELHI: Indian diamantaires in the world’s largest diamond trading centre in Belgium are facing tough days with the Belgian banks reportedly not lending to anyone linked to the diamond industry. The Antwerp World Diamond Centre (AWDC) has claimed that they have proofs that banks are systematically refusing customers with any connection to the trade, for both personal and professional ... Read More »

Belgian High Finance Council plans to balance the budget in 2019


BRUSSELS: The High Finance Council of Belgium has proposed a second goal: to balance the budget in 2019, as well as 2018. The Federal government plans to balance the budget in 2018, after it was agreed by a majority vote. Prime Minister Charles Michel said it was still possible after the last budget check in March, though it would be ... Read More »

Russian customs seize ecstasy trove from Belgium in huge postal drug bust


BRUSSELS: Two Russians were detained when they came to pick up a parcel from Belgium, containing a steam cooker and 5,000 ecstasy pills, Russia’s Federal Customs Service said in a statement. “During a customs examination, a cardboard box was found containing a steam cooker packed with five plastic bags filled with different-colored pills, marked with various logos and designs,” the ... Read More »

Belgian FSMA warns govt. of risk of several players’ “improper conduct”

Financial Services and Markets Authority

BRUSSELS: The Financial Services and Markets Authority (FSMA) launched a warning against the activities of several Belgian players “acting improperly” in the market. These are in the binary options, Forex products and CFDs (contracts for difference) sectors. Since August 18th, 2016, no investment company (whether or not approved) is authorized to actively trade binary options in Belgium, using a system ... Read More »

Belgium shares low at closing, BEL20 lost 0.42%

Belgium - BEL20

BRUSSELS: Belgium stocks were lower after the close on Friday, as losses in the Financials, Consumer Goods and Telecoms sectors led shares lower. At the close in Brussels, the BEL 20 lost 0.42%. The best performers of the session on the BEL 20 were Galapagos NV (AS:GLPG), which rose 1.26% or 0.950 points to trade at 76.130 at the close. ... Read More »

Belgium urged to undertake indirect tax shift

Belgium urged to undertake indirect tax shift

BRUSSELS: Belgium should reduce its high corporate income and labor taxes and eliminate value-added tax (VAT) concessions, the International Monetary Fund (IMF) has said in its Article IV report for the country. The report notes that Belgium intends to reduce its high personal income tax and social security contribution rates in 2018-2020. However, plans for corporate income tax reform have ... Read More »

EU Financial transactions tax deal hinges on Belgium


VIENNA: Austria’s finance minister says a decision on whether a group of European countries can go ahead with plans for a tax on financial transactions will be made in May. Hans Joerg Schelling said as he arrived at a meeting with European Union counterparts today that the future of the project depends on whether Belgium stay on board. He said ... Read More »

Belgian Trade Federation lauds Unified Benelux retail market initiative

Belgian Trade Federation

BRUSSELS: The chief executive of Comeos, the Belgian trade and services federation has welcomed a study that looks into the possibility of creating a unified retail market for the Belgium, Netherlands and Luxembourg economies. The study, Benelux Retail 2025, was praised by Dominique Michel, the chief executive of Comeos, who said, “we welcome the idea of a unified retail market ... Read More »

Belgian potato exports grow with web portal


BRUSSELS: Belgium is the world’s largest exporter of frozen potato products. Romain Cools from Belgapom, says: “Belgian companies annually process almost 4.5 million tonnes of potatoes into chips, crisps and other products, 90 per cent of which are exported throughout the world. If the sector wants to dedicate itself to sustainable growth, we will need more and better potatoes, and ... Read More »

Belgian eyes unchanged market for pear exports


BRUSSELS: For a while, the pear market experienced good prices, but those have dropped by a few cents as of yesterday. “I want to warn the Belgian fruit cultivators to not pack too much yet. It would be nice if we calmly waited so that we could maintain the good market situation until the end of the season,” says Kris ... Read More »